INFA - Why Informatica Stock Sank Today
2024-04-22 14:51:51 ET
Shares of Informatica (NYSE: INFA) sank on Monday after the company confirmed that Salesforce won't be acquiring it. As of 1:30 p.m. ET, Informatica stock was down about 9%.
Informatica stock took a hit earlier in the month after an article from The Wall Street Journal said that Salesforce was looking to acquire the cloud-based data management company for less than its stock price at the time. However, Informatica released a statement today saying that it's "not engaged in acquisition discussions."
Informatica says it's not involved in talks to be acquired , at least not right now. One would intuitively think this would reverse its drop from earlier in the month when the rumor first came out.
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Why Informatica Stock Sank Today